Question: The average credit card debt for a recent year was
The average credit card debt for a recent year was $9205. Five years earlier the average credit card debt was $6618. Assume sample sizes of 35 were used and the population standard deviations of both samples were $1928. Is there enough evidence to believe that the average credit card debt has increased? Use a 0.05. Give a possible reason as to why or why not the debt was increased.
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